Key points of the ADO on Economic Growth:
- Developing Asia: The economic growth in developing Asia is recovering to 7.3 per cent in 2021 followed by a 0.2 per cent contraction in 2020. Developing Asia includes newly industrialized economies, it consists of 46 members of the ADB list.
- South Asia: GDP growth of South Asia for 2021 is expected to be 9.5 per cent following a contraction of 6 per cent in 2020 and expects 6.6 per cent growth in 2022.
- East Asia: East Asia’s GDP is expected to grow at 7.4 per cent in 2021 and 5.1 per cent in 2022
- China: China’s GDP expansion is predicted to 8.1 per cent in 2021 and 5.5 per cent in 2022.
Recent Related News:
Asian Development Bank (ADB) has raised over USD 307 Million (~ INR 2232 Crore or Chinese Yuan Renminbi (CNY) 2 billion) from the 1st Panda bond issue in more than a decade. This is ADB’s largest-ever borrowing in an Asian local currency.
About Asian Development Bank(ADB):
Establishment – 1966
Headquarters – Manila, Philippines
President – Masatsugu Asakawa
Members – 68 members (49 from Asia & Pacific)